Regulatory Alerts2000-07-15 | 472Added · Updated
Regulation on Corporate Governance in Commercial Banks
This document establishes the foundational principles for organizing corporate governance in commercial banks in the Republic of Uzbekistan, defining the roles and responsibilities of the Board of Directors, the Management Board, and shareholders. It mandates the establishment of specialized committees, such as those for risk control and remuneration, and requires the implementation of internal codes of ethics, conflict of interest mechanisms, and transparency standards. The regulation outlines specific obligations for board members regarding risk management, capital adequacy, and the protection of shareholder and depositor interests, while also detailing the rights of ordinary and preferred shareholders and the supervisory role of the Audit Commission.
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